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Bank of the West Signs up for Detica NetReveal Fraud Prevention Solution

NEW YORK--(BUSINESS WIRE)-- Detica NetReveal, a business division of BAE Systems Detica, has announced that Bank of the West, a subsidiary of BNP Paribas, has signed up to use the Detica NetReveal® electronic payment fraud solution for all its online, wire and ACH (automated clearing house) payments, and the Enterprise Investigation Management solution for alerts and case management to provide comprehensive regulatory compliance.

The electronic payments fraud (EPF) solution will help Bank of the West effectively tackle the growing problem of fraud and abuse across the payments channels and EIM will provide investigators with a single view of alerts and case management enterprise-wide.

The Detica NetReveal enterprise platform will be rolled out across the entire Bank of the West operation, which consists of 700 retail and commercial banking locations in 19 Western and Midwestern states. Bank of the West is future proofing its fraud prevention strategies as this technology platform can seamlessly expand to encompass other fraud typologies providing an advanced system to assist in proactively protecting their customers from perpetrators of financial crime.

Joe Ford, EVP Chief Security Officer, Bank of the West, said:
“Bank of the West is committed to combating organized criminals as they become ever more sophisticated. With Detica NetReveal we have achieved a holistic and accurate view of customer behavior and significantly reduced false positives, freeing our investigators to pursue the true fraudsters. We are also pleased with the cost savings resulting from taking a single platform approach”.

Joe Friscia, President of the Americas, Detica NetReveal said:
“As consumer demand continues to grow for mobile, 24/7 e-banking services, financial organizations are ever more reliant on their online business. And while fraudsters try to exploit opportunities presented by new technologies, Bank of the West is staying one step ahead by deploying Detica NetReveal’s proven cross-channel fraud prevention and detection solution suite”.

About Detica NetReveal

Detica NetReveal is a leading provider of risk, fraud and compliance solutions to a wide range of financial services and government clients across the globe. The NetReveal suite of solutions combines predictive analytics with advanced social network analysis to identify suspicious behaviors more accurately than other solutions.

The power of our approach lies in the combination of specialist industry expertise with proven technology. We provide our clients with intelligence to more accurately assess the risk of the individual by better understanding the risk associated with the networks in which they operate. With over 130 clients across four continents, including six of the world’s current top 10 financial institutions, Detica NetReveal has a proven track record of tackling fraud, improving operational intelligence and reducing financial losses and reputational risk. Detica NetReveal, incorporating Norkom Technologies, is a business division of BAE Systems Detica.

For further information, please visit www.deticanetreveal.com

About BAE Systems Detica

BAE Systems Detica delivers information intelligence solutions to government and commercial customers. We help them collect, exploit and manage data so they can deliver critical business services more effectively and economically. We also develop solutions to strengthen national security and resilience.

We integrate and deliver world-class solutions to our customers’ most complex operational problems – often applying our own unique intellectual property. Our services include cyber security, managing risk and compliance, data analytics, systems integration and managed services, strategy and business change and the development of innovative software and hardware technologies.

Detica is part of BAE Systems, a global defence and security company with over 100,000 employees worldwide. BAE Systems delivers a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services.

BAE SYSTEMS, DETICA, NETREVEAL, Detica NetReveal are trade marks of BAE Systems plc.

Media:
BAE Systems Detica
Natasha Davies, +44 (0) 20 7812 4274
Head of PR and Media
Mobile: +44 (0) 7787 297 831
Natasha.davies@baesystemsdetica.com
or
Articulate Communications Inc.
Audra Tiner, +1 212-255-0080, ext. 34
atiner@articulatecomms.com

Source: Detica NetReveal